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Saturday , 30 May 2015

Category Archives: Greater Toronto Scene

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Special coverage of the GTA Condominium and lifestyle scene.

Condo Act reforms introduced at Queen’s Park

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After a lengthy process that involved numerous public consultation and input from various experts and stakeholders, the government of Ontario has made public its planned changes to the Condominium Act. It’s the first major change to the Act since it was passed in 1998. As the government says, the condo market in Ontario has changed “dramatically” since then. The Consumer Services Minister, David Orazietti, said that the new legislation will help to level the playing field for the average consumer buying a condo. The proposed legislation will address three key areas: consumer protection for condo buyers; improvements to how condos are run and managed; and means to strengthen the financial ... Read More »

Ontario needs more immigrants to buy, and build, homes: study

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Toronto’s real estate market depends on population growth, and growth comes largely through immigration. That has been taken as self-evident truth for many years and is often repeated by analysts as evidence that the housing market is fundamentally sound. As long as there is a steady stream of new immigrants needing housing, the housing market will thrive, according to the economists. But it is not only the real estate market that depends on immigrants; the labour market is also immigrant dependent.  Now a new study from the University of Toronto casts doubt on whether the city can continue to take population growth through immigration for granted. The Mowat Centre paper, ... Read More »

Bike Month kicks off with Bike to Work Day, May 25

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Whether you know a sharrow from an echelon, your shifter from your stem, chances are you have at some time in your life ridden a bicycle, and perhaps still do. According to the City of Toronto, more than half of Toronto residents (54 per cent) use a bicycle. Since about the same percentage of all trips we take daily are shorter than seven kilometres, which is less than thirty minutes by bicycle, it would be good if even more of us used the bikes. That at least is what the city says, as it prepares to launch this year’s Bike Month with “Bike to Work Day” this Monday, May 25. ... Read More »

LEED status boosts resale value of condos: TD report

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A new report on the market benefits of “green” condos in Toronto says that LEED certification boosts the resale price of a condo from 5 to 14 per cent. The TD Economics report also says that while more and more condos are being built to LEED certification, limited research has been done into the connection between LEED status and other market outcomes, such as the number of days it takes to sell and the impact on monthly maintenance fees. Approximately 35,000 new condo units are set to come on market in 2015, the report notes, and one in fifteen of the new developments will be achieving LEED certification. This certification is ... Read More »

Toronto poised to be Canada’s top economic, tourism performer of 2015

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It looks like 2015 and 2016 will be pretty good years for Toronto. The Conference Board of Canada forecasts that Toronto will pull ahead of the pack this year in economic growth, thanks to the weaker Canadian dollar and improving economy in the United States. For the first time since 1999, Toronto will have the fastest growing economy of the thirteen cities covered in the Conference Board’s Metropolitan Outlook: Spring 2015. It calls for Toronto’s economy to expand by 3.1 per cent in 2015, enough to improve the city’s stubbornly high unemployment numbers by 1.9 per cent. Next year will see growth of 3.2 per cent. The report highlights the city’s ... Read More »

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